The Township Clerk shall be the depositary and custodian of all official surety bonds furnished by or on account of any Township officer or employee, except the Clerk's own bond, which shall be placed in the custody of the Township Collector; all insurance policies upon or with respect to risks insured for the benefit of the Township or to protect it against any claim, demand or liability whatsoever; and all formal contracts for work, labor, services, supplies, equipment and materials, to which the Township may be a party. The Clerk shall also have custody of all leases of property owned by the Township. The Clerk shall report annually, at such time as the Council may require, on the coverage, expiration date and premium of each surety bond and contract of insurance. The Clerk shall also, at the same time, summarize outstanding leases, the rent reserved by each and their respective expiration dates. The Township Clerk shall also be the depositary for and have custody of all performance bonds running to the Township as obligee, or any other form of security, given by any contractor, subdivision developer or other persons on account of work done or to be done in or for the Township.